If you did not file for an extension, you will likely owe a fee (unless you are expecting a refund). The fee for late filing is usually 5% of the tax owed for each month, up to 25%. You will also owe interest on your late payments, at a rate of one-half percent (0.5%) per month, up to 25% of the unpaid tax balance.

Can I still file my taxes without an extension?

An extension of time to file your return does not grant you any extension of time to pay your taxes. You should estimate and pay any owed taxes by your regular deadline to help avoid possible penalties. You must file your extension request no later than the regular due date of your return.

Is there an automatic extension of time to file Form 7004?

All the returns shown on Form 7004 are eligible for an automatic extension of time to file from the due date of the return. See Form 7004 instructions for exceptions pertaining to foreign corporations with no office or place of business in the United States, for foreign and certain domestic corporations and for certain partnerships.

Can a late S Corp file a tax return?

Until you receive approval from the IRS, your corporation will not be eligible to file an S-Corp tax return. What Is a Reasonable Cause of Late S-Corp Filing? You will be happy to know that when granting relief, the IRS can be fairly lenient. Upon reviewing court documents and tax journals, certain reasonable causes are nearly always approved.

Is there an extension of time to file taxes?

An approved Form 7004 grants an automatic extension of time to file for 6 months from the return due date for all forms except Form 1041 (other than bankruptcy estate) and Form 1120 C Corporations with tax periods ending in June.

Is there an extension of time to file Form 709?

Form 8892, Application for Automatic Extension of Time to File Form 709 and/or Payment of Gift/Generation-Skipping Transfer Tax